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Sovereign Wealth Funds Briefing 29.Dec 2008

Posted on 29 December 2008 by VRS |  Email |Print

From Business24-7.ae: Governments should deploy capital held by sovereign wealth funds (SWFs) among other entities to stimulate growth in regional economies, leading regional entrepreneurs said.

The creation of public-private partnerships and other stable investment opportunities to help various sectors should be a key priority for governments in the current economic climate, entrepreneurs said at a roundtable on the sidelines of Ernst & Young’s Entrepreneur of The Year Awards….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Thepeninsulaqatar.com: Qatar is well-positioned to overcome the hurdles posed by the economic gloom due to its massive sovereign wealth fund, the Qatar Investment Authority (QIA).

“The QIA sovereign fund - the industry investment fund handled by the government - positioned investments in sector-related businesses rather than volatile assets, so that is very safe. Financially speaking, Qatar has a good chance of acquiring some of the good productive sectors assets in other countries,” said Dr. Hatem El Karanshawry, economist and dean of the Faculty of Islamic Studies at Qatar Foundation….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Brazzilmag.com: Luiz Inácio Lula da Silva, the president of Brazil, has signed a law creating a sovereign wealth fund to protect the country from the global financial crisis and help Brazilian companies boost trade and expand overseas.

The presidential press office said in a statement that Lula signed the law on Wednesday as well as a temporary measure founding the fund with the equivalent of almost US$ 6 billion….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Businessweek.com: Brazil will sell treasury bonds to finance its new sovereign wealth fund, circumventing a legislative hurdle that had limited its cash supply, a treasury official said.

The bond issue will allow Brazil’s government to deposit 14.2 billion reals ($5.9 billion), or 0.5 percent of gross domestic product, into the fund by January, Deputy Treasury Secretary Cleber Oliveira said, giving no other details on the sale….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From : The Petroleum Fund is the largest sovereign wealth fund in Europe and the second-largest in the world, with a value of over 2 trillion Norwegian kroner ($284 billion).

Nearly all the country’s oil wealth has been invested in the Government Pension Fund (Global), commonly known under its former name of the Petroleum Fund: ….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Netnewspublisher.com: Over the years nations - some hostile to U.S. interest - have been using petrodollars and profits from trade surplus with the U.S. to fill their coffers with enormous cash reserves to be used for the sole purpose of buying up U.S. assets.

These sovereign wealth funds typically lack transparency and there is a growing fear that nations such as China, Venezuela, Japan, Iran and others could be amassing these huge funds not to advance their own economic interests inside the U.S., which is detrimental enough to the American economy, but rather to advance political agendas….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Financialexpress.com: Globally, countries hold over $6 trillion of assets in forex reserves. These are managed either by their central banks or their sovereign wealth funds (SWFs). For example, India alone has around $250 billion in forex reserves, currently managed by RBI. However, SWFs are not one of the larger players in global financial markets.

SWF asset holdings ($3.1 trillion) amount to much less than those of mutual funds, pension funds and insurance companies ($20-30 trillion) but more than the $1.9 trillion assets of hedge funds and $1 trillion of private equity groups….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Taipeitimes.com: The China Investment Corp, the country’s sovereign wealth fund, which controls US$200 billion in assets, has lost money on almost all of its investments, including a loss of US$2.46 billion, or 82 percent, of the US$3 billion it invested in the Blackstone Group.

Although employees of large Chinese financial institutions usually graduate from top Chinese universities, they lack practical market experience….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Business24-7.ae: Dubai Investments (DI) is willing to sell up to 40 per cent stakes in any of its subsidiaries when the market situation improves, a top official said. He added that the global economic crisis is not expected to have a significant impact on future cash flows.

“We are open to selling stakes in any of our subsidiaries and possible buyers could include sovereign wealth funds,” DI Chief Executive Officer Khaled Kalban said….. Full Article: Source

Posted on 29 December 2008 by VRS |  Email |Print

From Gulf-times.com: The greatest vote of confidence on the Qatari banks came from the country’s sovereign wealth fund – the Qatar Investment Authority – a few weeks ago when it decided to buy local bank shares in a $5.3bn plan.

The QIA will buy between 10% and 20% of the banks’ listed capital on the Doha Securities Market based on closing share prices on October 12. The plan came amid government’s efforts to prevent the contagion from the global financial crisis from spreading to the region in general and the country in particular….. Full Article: Source

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